Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

Joel Robinson

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368856]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

Vacancy Rate

<html><body>
Data released by SQM Research this week has revealed the national residential vacancy rate slipped to 2.1% in March 2018.
The number of rental vacancies Australia-wide fell to 68,964, down from 2.2% in February when 69,727 properties were available.
Capital city asking rents have been pressured in Melbourne where the vacancy rate is just 1.4%.
Brisbane’s vacancy rate fell to 3.2%, down from 3.4% in February, while Canberra’s slipped to just 0.6%, down from 0.8%.
Commentator Peter Warrant noted the vacancy rate for Canberra has fallen from 2.5% in mid-2015 when it was announced in the Barr Budget that there would be significant rate rise and land taxes imposed in the Australian Capital Territory (ACT). While there are rentals on the market, the methodology picks up rental properties vacant between leases for a period of time and acts a viable leading indicator for markets that are tightening or easing.
With investors looking elsewhere, SQM reports that median asking rents for houses in the ACT have increased by +29% over the past three years to $617 per week.
That makes Canberra the second most expensive capital city after Sydney at a $738 per week median asking rent for houses.
<a href="https://4.bp.blogspot.com/-BGm3VeZZ7TA/WtUvDQ7EPOI/AAAAAAAApbk/ZQQmQb6NGrAHb2cNp2ojORGr-fJPI_-SQCLcBGAs/s640/SQM1.jpg" target="_blank">Click to open in new window</a>
<a href="https://4.bp.blogspot.com/-BGm3VeZZ7TA/WtUvDQ7EPOI/AAAAAAAApbk/ZQQmQb6NGrAHb2cNp2ojORGr-fJPI_-SQCLcBGAs/s640/SQM1.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-BGm3VeZZ7TA/WtUvDQ7EPOI/AAAAAAAApbk/ZQQmQb6NGrAHb2cNp2ojORGr-fJPI_-SQCLcBGAs/s640/SQM1.jpg" width="640" height="386" data-original-height="836" data-original-width="1385"></a>
 
In Hobart the chronic shortage of rentals has eased a little over the past two months, if only a little. 
Melbourne has a relatively tight vacancy rate at 1.4%, while in Sydney the vacancy rate of 2.3% is being reflected in relatively flat rents overall, including a slight decline for median house asking rents.
The Perth market continues to pick up steadily from its nadir.
Melbourne’s vacancy rate of 1.4% was steady as was Sydney’s at 2.3%.
But Sydney’s vacancy rate is well up from 1.7% a year earlier, reflecting slightly easier rental conditions in the nation’s most populous capital.
Hobart's vacancy rate inched higher to 0.6% from 0.5%, but a shortage of rental properties still exits there. In Adelaide, the vacancy rate remained tight at just 1.4%.
<table>
<colgroup>
<col width="77">
<col width="87">
<col width="95">
<col width="100">
<col width="95">
<col width="96">
<col width="95">
</colgroup>
<tbody>
<tr>
<td>
City
</td>
<td>
March 2017 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
February 2018 Vacancies
</td>
<td>
Vacancy Rate
</td>
<td>
March 2018 Vacancies
</td>
<td>
Vacancy Rate
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
3,108
</td>
<td>
1.7%
</td>
<td>
2,540
</td>
<td>
1.4%
</td>
<td>
2,519
</td>
<td>
1.4%
</td>
</tr>
<tr>
<td>
Perth
</td>
<td>
9,860
</td>
<td>
5.0%
</td>
<td>
8,319
</td>
<td>
4.1%
</td>
<td>
8,221
</td>
<td>
4.1%
</td>
</tr>
<tr>
<td>
Melbourne
</td>
<td>
7,397
</td>
<td>
1.4%
</td>
<td>
7,889
</td>
<td>
1.4%
</td>
<td>
7,479
</td>
<td>
1.4%
</td>
</tr>
<tr>
<td>
Brisbane
</td>
<td>
11,028
</td>
<td>
3.5%
</td>
<td>
10,925
</td>
<td>
3.4%
</td>
<td>
10,246
</td>
<td>
3.2%
</td>
</tr>
<tr>
<td>
Canberra
</td>
<td>
471
</td>
<td>
0.8%
</td>
<td>
495
</td>
<td>
0.8%
</td>
<td>
392
</td>
<td>
0.6%
</td>
</tr>
<tr>
<td>
Sydney
</td>
<td>
10,989
</td>
<td>
1.7%
</td>
<td>
15,581
</td>
<td>
2.3%
</td>
<td>
15,833
</td>
<td>
2.3%
</td>
</tr>
<tr>
<td>
Darwin
</td>
<td>
1,058
</td>
<td>
3.6%
</td>
<td>
989
</td>
<td>
3.3%
</td>
<td>
1,073
</td>
<td>
3.6%
</td>
</tr>
<tr>
<td>
Hobart
</td>
<td>
174
</td>
<td>
0.6%
</td>
<td>
145
</td>
<td>
0.5%
</td>
<td>
191
</td>
<td>
0.6%
</td>
</tr>
<tr>
<td>
National
</td>
<td>
73,554
</td>
<td>
2.3%
</td>
<td>
69,727
</td>
<td>
2.2%
</td>
<td>
68,964
</td>
<td>
2.1%
</td>
</tr>
</tbody>
</table>
SM noted in contrast to the national trend, Darwin’s vacancy rate rose to 3.6% from 3.3% in February.
The vacancy rate in Perth was steady at 4.1%.
Managing Director of SQM Research, Louis Christopher, said the vacancy numbers highlighted tight rental markets in some capital cities, particularly in Canberra and Hobart but also in Melbourne.
“Reflecting the tight rental conditions in Melbourne, asking rents for houses were up by 1.1% over the month to 12 April 2018, while asking rents rose 4.7% over the year.
"We can expect continued strong growth given the high population growth that Melbourne is currently experiencing, creating rental demand.
“In contrast, Sydney’s vacancy rate is above year-ago levels, and as rental vacancies rise, asking rents are falling. Asking rents for houses fell 1.3% over the year to 12 April while asking unit rents increased by just 0.8%.
"Sydney rents could continue to ease this year given its higher vacancy rate,” Christopher said.
Asking Rents
Capital city asking rents rose over the month to 12 April 2018 by 0.5% to $563 a week for houses. Unit asking rents rose 0.2% to $443 a week. Over the year, asking house rents rose by 1.3% while asking rents for units increased by 0.9%.
Asking rents for houses rose the most in Darwin over the month, up by 3.3% to $560 a week, though unit asking rents dropped 2.6%. In Melbourne, asking house rents gained 1.1% to $537 while unit asking rents rose 0.7% to $407 a week.
The asking rent for a three-bedroom house in Sydney remains the highest in the nation at $738 a week while for units it stands at $524. Canberra follows at $617 a week for houses and $439 for units.
<a href="https://www.propertyobserver.com.au/images/2018/4/18/Picture1.jpg" target="_blank">Click to open in new window</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/18/Picture1.jpg" alt="">
 .
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney rents could continue to ease this year given its higher vacancy rate: SQM

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Sydney vacancy rates show supply is largely meeting demand, according to the Real Estate Institute of New South Wales.
REINSW president John Cunningham said the October 2017 REINSW Vacancy Rate Survey saw availability in the Sydney metropolitan up 0.1 percentage points at 2.1 per cent, on par with January 2017.
“Vacancy rates in Inner Sydney fell 0.2 per cent to 2.0 per cent, Outer Sydney gained 0.2 percentage points to 2.0 per cent, while Middle Sydney fell 0.2 percentage points at 2.2 per cent,” Cunningham said.
“Parity is generally recognised at 2.0 per cent and we are currently seeing this right across Sydney.”
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/21/Residential1.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/21/Residential1.jpg" alt="">
 
The Hunter slipped 0.2 percentage points at 1.8 per cent with Newcastle down 0.6 percentage points at 2.3 per cent. The Illawarra was steady at 2.5 per cent led by Wollongong up 0.2 percentage points to 2.9 per cent, a figure last seen in January 2016. 
Across regional areas, Albury jumped back up to 3.2 percentage points, from 1.9 per cent, New England rose 0.5 per percentage points to 3.8 per cent and the Mid North Coast fell 0.4 percentage points at 1.7. Northern Rivers remained steady at 0.8 per cent. 
Click here <a href="https://www.propertyobserver.com.au/images/2017/11/21/Residential2.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/21/Residential2.jpg" alt="">
</div>
</div>
</div>
</div>
</div>
</div></body></html>

jonathanchancellor-7SQnKwU6yx

Sydney vacancy rates nudge higher: REINSW

<html><body>
<h3 class="post-title entry-title">SQM Research reported that vacancy rates fell across most capital cities in the month of August 2017.</h3>
<div id="post-body-4819303965695860274" class="post-body entry-content">
<div> </div>
<div>The national vacancy rate of 2.2 per cent was marginally lower than the 2.3 per cent seen at the same time in the prior year. </div>
<div> </div>
<div>Melbourne (1.7 per cent) and Hobart (0.4 per cent) in particular are seeing sharp increases in median asking rents, while the vacancy rate in Adelaide was down to just 1.6 per cent from 1.9 per cent a year earlier.</div>
<div> </div>
<div>In fact, Hobart has the lowest vacancy rate on record for any capital city, and both rents and prices are exploding higher.  </div>
 <div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/09/21/SQM1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/SQM1.jpg" alt=""></div>
<div> </div>
<div>Vacancy rates ticked down from July in Brisbane (3.1 per cent) and Perth (4.6 per cent) in August.</div>
<div> </div>
<div>The rental market Perth needs to improve for landlords - median asking rents are some 34 per cent lower than at their peak according to SQM's asking rents index. </div>
<div> </div>
<div>Meanwhile Darwin has recorded seven consecutive declines in its vacancy rate, suggesting that the rental downturn may finally be over in the Northern Territory. </div>
<div> </div>
<div>Smoothing the last 6 months of figures suggests that the rental market is not deteriorating significantly in most capital cities. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/21/SQM2.jpg" target="_blank">Click to enlarge</a></div>
</div>
<div class="post-body entry-content"> </div>
<div class="post-body entry-content">
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/SQM2.jpg" alt=""> <div class="separator"> </div>
 Dwelling completions are expected to peak in early 2018, while immigration has picked up a notch. SQM's Managing Director, Louis Christopher, noted: <div> </div>
<div>"We believe rents will likely rise at a faster pace 2018 than what has been recorded in 2017, thus far. </div>
<div> </div>
<div>We now have mounting concerns for significant rental shortages in 2019 in Sydney and Melbourne”. The delinquents There is some correlation here with the performance in mortgage delinquencies. Moody's reported that, by the month of May, 30 plus day delinquencies in Melbourne had declined to just 1.35 per cent, and in booming Hobart arrears had fallen very sharply to just 1.45 per cent. In Sydney, the 30-plus delinquency rate was as low as 0.84 per cent, which is as low as we will ever see for Sydney as a city of more than 5 million persons, while the ACT had a reported delinquency rate of just 0.90 per cent. On the other hand delinquency rates increased to 2.20 per cent in Adelaide, 2.66 per cent in Perth, and 2.82 per cent in Darwin. And helping to tick 30-plus arrears slightly higher year-on-year from 1.50 per cent to 1.62 per cent, delinquencies were higher in the regional markets of all of the resources states and territories, including South Australia.</div>
<div> </div>
<div>
<a href="https://www.propertyobserver.com.au/images/2017/09/21/MOODYS.jpg" target="_blank">Click to enlarge</a> <div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/MOODYS.jpg" alt=""></div>
 Despite these increases, thanks to the Sydney and Melbourne weighting nationally delinquency rates remain well below the levels seen in 2011 and 2012 of 1.87 per cent and 1.81 per cent respectively.</div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
 
</div>
</body></html>

pwargent-M4siyDbqQY

SQM sees rental shortages by 2019 

<html><body>
Hobart has recorded the lowest vacancy rate for any city in August. 
According to SQM Research, Hobart's vacancy rate was 0.4 percent in August, down from 0.5 percent in July.
Louis Christopher, SQM managing director said it is the lowest since SQM Research commenced measuring the rental market in 2005.
"Darwin recorded the sharpest decline for the month with vacancy rates falling to 2.5 percent (from 2.9 percent July)," he said.
"Darwin has now recorded falling vacancy rates for seven straight months in a row, which suggests the downturn in the Darwin rental market is over.
"Sydney recorded a vacancy rate of 2.0 percent which was largely steady from July.
"There had been a rise in vacancies in Sydney over the winter months, however, SQM expects this seasonal increase in vacancies to unwind during spring.
"Brisbane had a vacancy rate of 3.1 percent for August, down from 3.3% recorded in July.
"Perth continues to have the highest vacancy rate of all capital cities at 4.6 percent, but that result too was down for the month (4.9 percent July)." 
"The vacancy rate remained very tight at 0.4 percent in Hobart, down from 0.5 percent a month earlier, while in Sydney and Melbourne vacancies remain steady at 2.0 percent and 1.7 percent, respectively.
"All other cities recorded falls in vacancies for the month."
<a href="https://www.propertyobserver.com.au/images/2017/09/20/Screen%20Shot%202017-09-20%20at%209.59.15%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/09/20/Screen%20Shot%202017-09-20%20at%209.59.15%20AM.png" alt="">
"Overall the current rental market is a moderate landlord’s market.
"There is nothing in our numbers to suggest the market is about to be hit with oversupply.  
"Dwelling completions should peak in early 2018 and given the pronounced year on year declines in building approvals, we believe rents will likely rise at a faster pace 2018 than what has been recorded in 2017, thus far. 
"We now have mounting concerns for significant rental shortages in 2019 in Sydney and Melbourne."
<div> </div>
</body></html>

Hobart has recorded the lowest vacancy rate nationwide: SQM Research

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
The Inner Sydney rental market has seen two months of increased availability according to the Real Estate Institute of New South Wales, which also noted the highest levels since August 2015.
John Cunningham, REINSW President, said the June 2017 REINSW Vacancy Rate Survey saw Inner Sydney rise 0.3 percent at 2.2 percent, while the overall Sydney metropolitan area remained steady at 1.8 percent.
<a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.46.14%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.46.14%20AM.png" alt="">
“The rise in Inner Sydney was offset by a decline of 0.2 percent at 1.4 percent in Middle Sydney, while outer Sydney slipped 0.1 percent at 1.7 percent," he said.
“More stock has entered the market place in Inner Sydney which has seen a rise in availability as tenants take time to fill the available accommodation.
"In the Illawarra, vacancy rates rose 0.7 percent to 2.5 percent with Wollongong up 1.2 percent at 2.4 percent.
"The Hunter rose 0.2 percent to 2.3 percent with Newcastle up 0.7 percent to 2.9 percent.
"Across regional areas, Albury and New England have the highest vacancy rates at 3.1 percent, up 0.3 percent and down 0.1 percent respectively.
"The Riverina was down 0.2 percent at 2.5 percent and Northern Rivers fell 0.1 percent to 1.6 percent."
<a href="https://www.propertyobserver.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.47.25%20AM.png" target="_blank">Click to enlarge </a><img src="https://www.urban.com.au/images/2017/07/14/Screen%20Shot%202017-07-14%20at%2010.47.25%20AM.png" alt="" style="font-size: 12.16px;">
 
</div>
</div>
</div></body></html>

Inner Sydney vacancy rates highest for 2 years

<html><body>
Melbourne's vacancy rate fell to a 10 year low in February to 1.7 percent, according to SQM Research.
The latest data from SQM found Sydney's vacancy rate, fell to 1.9 percent, down from December's figure of 2.5 percent.
<a href="https://www.propertyobserver.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%209.57.34%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%209.57.34%20AM.png" alt="">
 
Louis Christopher, managing director of SQM said the last time the vacancy rate was 1.7 percent in Melbourne was in June 2007, almost 10 years ago, so this is quite remarkable.
"Despite predictions of looming apartment oversupply in inner-city Melbourne, we are seeking vacancies fall, rather than rise," he said.
“Even in in the Docklands, the vacancy rate tumbled to just 2.4 percent last month, down from a high of 6 percent in December. 
"The rental market could tighten further in Melbourne as some apartment developments are scaled back, which would cut supply and could pressure rental growth higher in that city.
"Rents rose strongly in Melbourne over the month to March 20, up by 1.6 percent for houses to $512.30 a week, giving an annual change of 7.2 percent.
"Only Canberra reported a higher annual asking rent growth for houses at 7.6 percent, with weekly asking rents up to $578.80.
"Darwin continues to record falls in asking rents for houses, down 1.5 percent over the month, while unit rents were down 1.3 percent.
"Perth has again posted the largest yearly declines, with unit asking rents down 10.1 percent and house asking rents down 7.1 percent, though monthly declines were modest at 0.1 percent and 0.7 percent respectively.
"Brisbane unit asking rents were down by 0.5 percent over the month to March 20, and house asking rents were down by 0.4 percent.
“Unlike Melbourne or Sydney, Brisbane’s unit rental market is slightly oversupplied, which has kept down rental growth. 
"But in the other big cities, rental growth is strong, and well above the inflation rate and wages growth, suggest rentals are getting more and more unaffordable for the average person." 
Property Observer found a two bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-vic-docklands-420729074" target="_blank">1607/8 McCrae Street, Docklands</a> (above) for $600 per week.
The 16th floor unit has two bathrooms, two car spaces and use of apartment facilities such as swimming pool and barbeque. 
A three bedroom fully furnished apartment at <a href="https://www.realestate.com.au/property-apartment-vic-docklands-420614638" target="_blank">70 Lorimer Street Docklands</a> is on the market for $1,500 per week. The property (below) features three bathrooms, two car spaces and views over Port Phillip Bay, Yarra River, Victoria Harbour and the CBD.
<img src="https://www.urban.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%2011.07.34%20AM.png" alt="" style="font-size: 12.16px;">
A two bedroom, two bathroom apartment with two car space on the market for $775 per week at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-420615802" target="_blank">1401/480 St Kilda Road Melbourne</a> (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/22/700_park.jpg" alt="" width="593" height="360">
The unit, on the top floor has views over Faulkner Park.
A two bedroom unit with two bathrooms and one car space at <a href="https://www.realestate.com.au/property-apartment-vic-melbourne-420719670" target="_blank">1602/82 Queens Road Melbourne</a> (below) is on the market for $565 per week.
<img src="https://www.urban.com.au/images/2017/03/22/Screen%20Shot%202017-03-22%20at%2010.08.01%20AM.png" alt="" style="font-size: 12.16px;">
The 16th floor apartment has views of the city, the bay and Albert Park.
</body></html>

Melbourne's vacancy rate falls to near decade low

<html><body>
Office vacancy rates in Sydney in the quarter ended September 2016 are expected to have tightened below the 5.6% recorded in July, making prime-grade renting more expensive and the trend could linger in 2017, according to a new report by commercial real estate firm Cushman &amp; Wakefield.
The developments came amid a contraction in Australia’s economy in the the third quarter, the first since 2011, though New South Wales posted the strongest state final demand of all states and territories with 4.7% annual average growth, with the employment rate also improving.
According to the Cushman &amp; Wakefield report, economic factors and 189,000 sqm of stock withdrawals ensured a shortage of non-premium grade stock across the Sydney CBD in 2016, leading to a tightening in the vacancy rates to below the 5.6% recorded in July.
The tight market lifted Prime-grade gross effective rents by 4.3% quarter-on-quarter. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-PrimeRent.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-PrimeRent.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-NetAbsorption.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-NetAbsorption.png" alt="">
“The growth was mainly driven by falling incentives as Premium grade face rents were stable; while face rent growth remains positive, the rate of growth slowed over the quarter,” says the report. 
B-grade stock also recorded a strong decline in incentives with gross effective rents up 7.9% QoQ to $727 per sqm, a 30% increase on 2015. B-grade partial floor vacancies are now attracting sub-15% incentives. 
Among the deals of note were Henry Davis York committing to an anchor tenancy of 7,000 sqm at 60 Martin Place and Atlassian committing to 5,500sq m at 363 George Street. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-KeyDeals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-KeyDeals.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Syd-Projects.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Syd-Projects.png" alt="">
The report’s 2017 outlook says “tenants will continue to prioritise affordability, followed by proximity to public transport and natural light”. 
Low vacancy rates, negative net supply and service sector growth is expected to continue to support rental growth across all grades. 
But the report ads that “as Sydney nears the peak of the office leasing cycle we anticipate face rental growth to slow with growth driven by declining incentives”. 
Nearly 300,000 sqm of withdrawals are expected to keep vacancy tight in 2017, predominantly associated with the Sydney Metro and Circular Quay redevelopments, it says.
</body></html>

Sydney office vacancy rates likely tightened, trend could linger: Cushman & Wakefield

<html><body>
Townsville has recorded a rise in its residential vacancy rate, lifting from 5.7 percent to a record high of 7.1 percent over September.
Antonia Mercorella, chief executive officer of the REIQ said this is surprising because Townsville’s property market, overall, is reasonably steady.
"Local agents tell us, anecdotally, that there have been a few break-lease situations where people are leaving to become owner occupiers, but how widespread this is, it’s hard to say," she said.
“This is always a risk when interest rates are at historic lows."
“However, it’s too early to draw any concrete conclusions about the Townsville market; next quarter may reveal the September result to be anomalous.”
<a href="/images/2016/10/25/Vacancy%20rate%202.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/25/Vacancy%20rate%202.jpg" alt="">
Very high vacancies:
<ul>
<li>Gladstone 8.9 percent</li>
<li>Mackay 6.9 percent</li>
<li>Townsville 7.1 percent (record)</li>
<li>Burdekin 9.6 percent</li>
<li>Cassowary Coast 7.7 percent</li>
<li>Livingstone 8.3 percent</li>
</ul>
 (Source: REIQ)
</body></html>

Townsville vacancy rate hits 7.1 percent record high

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Residential vacancy rates have tightened across Sydney according to the Real Estate Institute of New South Wales. 
John Cunningham, REINSW President said the October 2016 REINSW Vacancy Rate Survey was at 1.7 percent, down 0.2 percent for Sydney. 
<a href="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%2011.46.21%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%2011.46.21%20AM.png" alt="">“We have seen an increase in interest in Middle Sydney and the take up of newly completed apartments has seen vacancies fall 0.6 percent at 1.5 percent,” he  said.
“This is the lowest vacancy rate for Middle Sydney since August 2015. Meanwhile Outer Sydney remained steady at 1.8 percent and Inner Sydney bucked the trend with a rise of 0.1 percent at 1.9 percent.
"In the Hunter, Newcastle saw an increase of 0.5 percent at 2.4 percent, despite this the overall vacancy rates across the region remained unchanged at 2.2 per cent. 
In the Illawarra, vacancy rates made a 0.3 per cent correction to 1.6 percent overall as well as for Wollongong, which also rose 0.3 percent to 1.6 percent. 
"Across regional areas, Albury leapt 1.0 per cent at 3.9 percent, the Central Coast fell 0.8 percent at 1.9 per ent and the Northern Rivers was down 0.2 percent at 0.8 percent, it’s lowest level since January 2016." 
<a href="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%2011.44.53%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Screen%20Shot%202016-11-14%20at%2011.44.53%20AM.png" alt="">
</div>
</div>
</div></body></html>

Middle Sydney apartment take up sees local residential vacancy fall: REINSW

<html><body>
As expected SQM Research's figures showed vacancy rates declining in August in every capital city, and rents jumping in the big cities. 
Hobart's vacancy rate fell to just 0.5 percent, while both Sydney (1.7 percent) and Melbourne tightened (1.9 percent) despite talk of an oversupply.
Asking rents for units were up by +4.5 percent in Melbourne and +4.0 percent over the year to August, suggesting that "landlords are in control of the market" according to SQM. 
Vacancy rates also declined in August in Brisbane, Adelaide, Perth, Darwin, and Canberra. 
<a href="/images/2016/09/23/SQM1.jpg" target="_blank">Click to enlarge</a>
<div id="x_post-body-4621751620857808479" class="x_post-body x_entry-content">
<div class="x_separator"><img src="/images/2016/09/23/SQM1.jpg" alt=""></div>
<div> </div>
<div>Smoothing the data on a 4mMA basis shows that Canberra's market has also tightened substantially, with asking rents soaring by +12 percent. </div>
<div> </div>
<div>The smoothed figures show that Darwin is on the mend, but Perth still has a 5 percent vacancy rate to chew through before rents can rise again. </div>
<div> </div>
<div><a href="/images/2016/09/23/SQM2.jpg" target="_blank">Click to enlarge</a></div>
<div> <img src="/images/2016/09/23/SQM2.jpg" alt="">
</div>
 According to Louis Christopher of SQM Research: <div>"Sydney is likely to remain a landlords' market, as the city's growing population creates demand for new stock".</div>
<div> </div>
<div>Only in one sub-region of Sydney has SQM recorded an increase in advertised vacancies. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
</div>
</body></html>

Vacancy Rate

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Vacancy Rate

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News